Lockheed Martin Investment Management Co. Decreases Position in Prologis, Inc. (NYSE:PLD)

Lockheed Martin Investment Management Co. lowered its position in Prologis, Inc. (NYSE:PLD) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,690 shares of the real estate investment trust’s stock after selling 430 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Prologis were worth $3,455,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dunhill Financial LLC increased its holdings in Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 182 shares in the last quarter. Hara Capital LLC acquired a new stake in shares of Prologis in the third quarter valued at approximately $48,000. Coastline Trust Co purchased a new position in shares of Prologis during the 3rd quarter worth approximately $52,000. Fortitude Family Office LLC raised its position in shares of Prologis by 120.6% during the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 240 shares during the last quarter. Finally, Hanson & Doremus Investment Management lifted its stake in Prologis by 42.2% in the 4th quarter. Hanson & Doremus Investment Management now owns 623 shares of the real estate investment trust’s stock valued at $66,000 after buying an additional 185 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the subject of several recent research reports. UBS Group raised their price target on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Truist Financial lifted their price objective on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. BTIG Research reduced their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday. Finally, BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and cut their price objective for the company from $120.00 to $104.00 in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Prologis Stock Performance

Prologis stock opened at $118.38 on Wednesday. The company has a market cap of $109.64 billion, a price-to-earnings ratio of 29.59, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. The stock’s 50-day moving average is $111.02 and its 200-day moving average is $118.33.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.24%. Prologis’s payout ratio is 96.00%.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.